Local developer buys Albany waterfront hotel site

Construction on a long-awaited hotel on the Albany Waterfront will begin within the next three years after LandCorp announced the sale of vacant lot adjacent to the Albany Entertainment Centre for $1.5 million to a developer with “development experience in the Great Southern”.

A deal for the 9599sqm hotel site was settled on Thursday which will see a hotel and short-stay accommodation of five storeys built.

LandCorp general manager Stuart Nahajski said the developer had entered into a contract to commence building the hotel within three years and completion within five years.

He said the developer had wished to remain anonymous for now but allayed local fears of an overseas investor.

“(This is) different from previous proposals where we have sought designs as condition of offer this has been a direct approach to buy the site with development conditions associated with it,” Mr Nahajski said.

Accommodation development on the waterfront has suffered consistent setbacks and delays since 2010 as doubts were cast over the viability with no suitable applications received by LandCorp until the failed consortium of Diploma Group and Quest Serviced Apartments fell through two years ago.

More in Tuesday’s Albany Advertiser